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Seagate Technology Holdings plc reports developments in mass-capacity data storage, including hard disk drive technology, enterprise storage demand, and consumer storage products. The company serves hyperscale cloud providers, enterprises, and consumers with storage solutions used to protect, create, manage, and scale data.
Recurring Seagate news includes fiscal results, dividend actions, investor-event participation, board governance updates, and product announcements across its Seagate, FireCuda, and LaCie brands. Technology updates also cover its Mozaic platforms, HAMR-based storage, high-capacity drives, and customer qualification activity in hyperscale environments.
Seagate Technology Holdings plc (NASDAQ: STX) has raised its revenue and earnings guidance for Q4 FY2021, ending July 2, 2021. The CEO, Dave Mosley, attributes this increase to robust demand in mass capacity markets. The updated revenue forecast is $2.95 billion, up from $2.85 billion, with a non-GAAP EPS estimate of $1.85, compared to the previous $1.60. This revision reflects strong market conditions and Seagate's manufacturing agility amid changing demand.
Seagate Technology Holdings plc (NASDAQ: STX) will participate in two key virtual investor events in June 2021. The first is the Bank of America 2021 Global Technology Conference on June 8, 2021, at 8:30 AM PT / 11:30 AM ET. The second event is the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 10:20 AM PT / 1:20 PM ET. Investors can access the live audio webcasts on Seagate’s Investor Relations website and view replays for 30 days post-event.
Seagate, a leader in data storage solutions, has a history of over 40 years and has shipped more than three billion terabytes of data capacity.
Seagate Technology (NASDAQ: STX) reported impressive fiscal Q3 results ending April 2, 2021, with revenue reaching $2.731 billion, slightly up from $2.718 billion in Q3 2020. The company achieved non-GAAP EPS exceeding guidance, reflecting strong operational execution and high demand for nearline drives. CEO Dave Mosley highlighted a positive outlook for the June quarter, anticipating year-over-year revenue growth and enhanced profitability as data storage needs intensify globally.
Seagate Technology (NASDAQ: STX) will announce its fiscal third quarter 2021 financial results on April 22, 2021, after market close. The conference call for investors will begin at 1:30 p.m. Pacific / 4:30 p.m. Eastern. Investors can access the live audio webcast on Seagate's Investor Relations website.
With over 40 years in data storage solutions, Seagate has shipped over three billion terabytes of data capacity, positioning itself as a leader in the technology sector.
Seagate Technology (NASDAQ: STX) has launched Lyve™ Data Transfer Services, featuring a fleet of Lyve Mobile data shuttles and a flexible on-demand purchasing model. This service enables businesses to transfer large data volumes securely and efficiently between storage locations, vital as enterprise data is projected to grow by 42.2% annually over the next two years. Customers can access these services through a scalable subscription model, optimizing storage costs and enhancing data management.
Seagate Technology (NASDAQ: STX) has appointed Shankar Arumugavelu to its Board of Directors, effective March 19, 2021. He will also serve on the Audit and Finance Committee. Arumugavelu, currently CIO at Verizon, brings extensive experience in IT strategy and enterprise transformation. His expertise aligns with Seagate's focus on leveraging data in mass capacity markets. The appointment aims to enhance the company’s innovative efforts in data storage and management solutions.
Seagate Technology (NASDAQ: STX) launched its Lyve Cloud storage-as-a-service platform, aimed at providing efficient, always-on data storage solutions. Partnering with Equinix, Lyve Cloud enables enterprises to activate vast unstructured datasets while ensuring low latency and reduced costs. Key features include no lock-in, no egress fees, and robust data security with ISO27001 and SOC2 certifications. The service is designed for seamless integration, catering to businesses' growing data retention needs. Upcoming virtual event on March 30, 2021, will highlight further details on Lyve Cloud.
Seagate Technology (NASDAQ: STX) will participate in the Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021. The presentation is scheduled to begin at 10:15 AM PT / 1:15 PM ET. Investors can access a live audio webcast on Seagate's Investor Relations website, with a replay available for 30 days post-event. Seagate is known for its innovative data management solutions and aims to enhance humanity's potential through sustainable partnerships.
Seagate Technology (NASDAQ: STX) will host a virtual analyst and investor event on February 24, 2021, starting at 9:00 a.m. PT. The event will cover Seagate's strategies for capturing the demand for mass-capacity storage and managing data complexity in distributed enterprises.
Presentations will be led by Seagate's leadership team and will include details on the company's long-term financial model. A live video webcast will be available on Seagate's Investor Relations website, with a replay accessible afterward.
Seagate Technology (NASDAQ: STX) reported fiscal Q2 2021 results with revenue of $2.623 billion, slightly down from $2.696 billion a year prior. Net income fell to $280 million ($1.12 per diluted share) compared to $318 million ($1.20 per share) in Q2 2020. Despite revenue declines, Seagate achieved strong cash flow, generating $473 million in operations and $314 million in free cash flow. The company announced a quarterly cash dividend of $0.67 per share and repurchased 18 million shares for $1 billion during the quarter.